Dear tech giants: political support does not buy influence with the old boys network

Dear tech workers. Your companies sold out to the dark side because they though they were teaming with the winning side. In some cases that may be true, but a political beast will always be a political beast. When you befriend the vampire, he will forget the friendship and dine on you when the sun goes down - unless you’re a member of his clan. In this case, federal employees, unions, community organizers, bankers and brokers trump tech.

According to AP, Obama’s tax plan which is being spun as “closing a loop hole” means that outfits that make money overseas will have to pay tax in the US.

The technology industry has been able to survive because of their overseas sales, most of which are taxed in the countries that they make them.

If Obama’s proposal becomes law, the hard-hit companies such as HP, IBM, Cisco, Microsoft and Google will have to pay tax on foreign earnings at the Land of the Free’s much higher tax rate. Maybe they would like to move to Britain where that one penny on tea which the US seemed to think was a pretext for armed terrorism seems nothing to what companies are expected to pay now.

It has been estimated that the plan will cost the bigger tech companies a combined $7.4 billion. (The Inquirer)

A $7.4 billion loss will almost certainly result in more off shore out sourcing for big tech. Meanwhile, the printing presses are running full steam to support unprecedented government growth. The vampire clan is growing. If tech wants to join the clan, it will need to morph from being an innovative and productive industry into a predatory parasite. Tens of thousands of laid off tech workers can look forward to competing for a few hundred jobs Obama wants to create for new IRS agents.

Of course this is being spun willfully by the mainstream media to play much differently. The next question is who is the bigger fool? The guy in the white house or the tech giants who expected him to take care of them after they put him there. As usual, the American tech worker takes the hit. Now that’s not a change you can belive in!